Rhumbline Advisers lifted its position in Global Business Travel Group, Inc. (NYSE:GBTG – Free Report) by 419.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 143,883 shares of the company’s stock after acquiring an additional 116,175 shares during the period. Rhumbline Advisers’ holdings in Global Business Travel Group were worth $950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of GBTG. Tidal Investments LLC acquired a new stake in Global Business Travel Group in the 1st quarter valued at $3,383,000. Bank of New York Mellon Corp boosted its holdings in Global Business Travel Group by 1,116.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,007,861 shares of the company’s stock valued at $6,652,000 after purchasing an additional 925,018 shares during the last quarter. Par Capital Management Inc. boosted its holdings in Global Business Travel Group by 42.1% in the 4th quarter. Par Capital Management Inc. now owns 770,000 shares of the company’s stock valued at $4,966,000 after purchasing an additional 228,149 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Global Business Travel Group by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 971,900 shares of the company’s stock valued at $5,841,000 after purchasing an additional 10,446 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new position in Global Business Travel Group in the 2nd quarter valued at about $108,000. Hedge funds and other institutional investors own 82.46% of the company’s stock.
Global Business Travel Group Trading Up 1.3 %
Shares of NYSE:GBTG opened at $7.58 on Tuesday. Global Business Travel Group, Inc. has a 52 week low of $4.49 and a 52 week high of $7.61. The company’s 50 day moving average is $6.95 and its two-hundred day moving average is $6.40. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.11. The company has a market cap of $3.58 billion, a PE ratio of -19.44 and a beta of 0.63.
Analyst Ratings Changes
Several equities analysts have weighed in on GBTG shares. Evercore ISI boosted their target price on shares of Global Business Travel Group from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Citigroup boosted their price target on shares of Global Business Travel Group from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, August 8th.
View Our Latest Analysis on GBTG
Global Business Travel Group Company Profile
Global Business Travel Group, Inc provides business-to-business (B2B) travel platform in the United States and internationally. The company's platform offers a suite of technology-enabled solutions to business travelers and clients; travel content suppliers, such as airlines, hotels, ground transportation, and aggregators; and third-party travel agencies.
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